Judge to rule whether NY man accused of orchestrating $413M Ponzi scheme should remain freeOctober 9th, 2009 Judge to rule on bail for NY man accused of fraudCENTRAL ISLIP, N.Y. — A federal judge is expected to decide Friday whether a New York businessman accused of orchestrating a $413 million Ponzi scheme will be permitted to remain free on bail.
Judge considers revoking bail for NY businessman accused of orchestrating $413M Ponzi schemeOctober 8th, 2009 Judge reconsiders bail for NY man accused of fraudCENTRAL ISLIP, N.Y. — A federal judge is considering a request by prosecutors to revoke bail for a New York businessman accused of orchestrating a $413 million Ponzi scheme.
Jury finds Dallas City Council member, others guilty in bribery and extortion case schemeOctober 5th, 2009 Dallas official guilty in bribery, extortion scamDALLAS — A federal jury has returned guilty verdicts against a Dallas City Council member accused of bribery and extortion. Former Mayor Pro Tem Don Hill was convicted Monday of seven out of nine counts against him in a bribery and extortion scheme.
SEC sues Mich. man accused of raising millions in fraudulent scheme involved 1,200 investorsSeptember 30th, 2009 SEC sues Mich. man linked to alleged Ponzi schemeDETROIT — Federal regulators are suing a Detroit-area man who is accused of soliciting millions for the leader of a $250 million financial scam.
NY prosecutors suspect adoption Ponzi scheme that promised babies but didn't deliverSeptember 30th, 2009 NY prosecutors suspect 'adoption Ponzi scheme'GARDEN CITY, N.Y. — New York prosecutors are investigating a possible "adoption Ponzi scheme" in which clients were defrauded out of fees for babies who didn't exist.
US freezes assets of 2 NKorean entities for alleged nuclear and missile activitySeptember 8th, 2009 US freezes assets of 2 NKorean entitiesWASHINGTON — The United States has moved to freeze the assets of two North Korean entities for alleged involvement in the country's nuclear and missile programs. The State Department said Tuesday it was taking the action against the North Korea's General Bureau of Atomic Energy (GBAE) and the Korea Tangun Trading Corp., essentially isolating them from the U.S.
US freezes assets of 6 Mexicans for ties to firm that allegedly sent meth precursor to cartelSeptember 3rd, 2009 US sanctions 6 Mexicans accused of meth trade tiesMEXICO CITY — The U.S. Treasury Department has imposed sanctions on six Mexicans linked to a pharmaceutical company that allegedly diverted precursor chemicals to a methamphetamine trafficking gang.
Asset freeze stays put at 2 Detroit-area firms accused of orchestrating $53M Ponzi schemeAugust 4th, 2009 Asset freeze stays put in $53M Mich. fraud caseDETROIT — A judge has kept an asset freeze in place at two Detroit-area financial firms where managers are accused of orchestrating a $53 million Ponzi scheme.
Judge freezes assets of Detroit-area money managers after SEC says they're running $53M scamJuly 28th, 2009 SEC says Mich. is home to $53 million scamDETROIT — A federal judge in Detroit has frozen the assets of people accused of running a $53 million real estate scam in which money from new investors is used to pay other investors.
SEC accuses Lancelot Investment of investing more than $2 billion in alleged Ponzi schemeJuly 11th, 2009 Lancelot Investment accused of aiding Ponzi schemeCHICAGO — Lancelot Investment Management and its owner have been accused by the U.S. Securities and Exchange Commission of aiding a multibillion dollar Ponzi scheme.
SEC freezes assets of company accused of Texas oil and gas-themed Ponzi schemeJuly 7th, 2009 SEC alleges oil-and-gas Ponzi schemeDALLAS — Federal regulators have frozen the assets of a Delaware company accused of swindling nearly 8,000 investors in a $485 million Ponzi scheme that falsely promised hefty returns on investments in the oil and gas business, officials said Tuesday. Three businessmen in Dallas, where Provident Royalties LLC has its main office, ran the nationwide operation involving fraudulent securities offerings between June 2006 and January 2009, the Securities and Exchange Commission alleged in civil complaint filed in a North Texas federal court.
Federal judge freezes Calif. financier Danny Pang's assets during SEC fraud investigationJune 30th, 2009 Judge freezes Pang's assets during SEC probeLOS ANGELES — A federal judge has temporarily frozen the assets of a Southern California financier while he is under investigation by the Securities Exchange Commission. The judge on Monday ordered Danny Pang, who is accused of defrauding investors in his Private Equity Management Group companies, to repatriate any assets sent overseas and turn over his passports.
Feds charge 2 Calif. men of running $85 million Ponzi scheme targeting Korean-AmericansJune 10th, 2009 Feds accuse 2 Calif. men of conducting $85M schemeSAN FRANCISCO — Federal regulators have accused two Northern California men of conducting an $85 million Ponzi scheme that targeted Korean-Americans, pledging to deliver spectacular returns from foreign currency trading.
Wine collection, private jet up for liquidation in alleged Caribbean Ponzi schemeJune 4th, 2009 Receiver in Caribbean scheme targets jet, wineSAN JUAN, Puerto Rico — A court-appointed receiver wants to sell off a wine collection, a private jet and two Cadillacs, among other property, to pay off victims of an alleged Ponzi scheme involving a Caribbean offshore bank, according to court documents. Receiver Richard Roper III asked a federal judge in Texas to authorize the sale to help compensate hundreds of Americans who had invested at least $68 million since 2004 in the alleged scheme.
Madoff case trustee says claims in massive Ponzi scheme rise to almost 9,000May 14th, 2009 Trustee: Nearly 9,000 claims in Madoff scamNEW YORK — The trustee overseeing the liquidation of Bernard Madoff's assets says he's received almost 9,000 claims from the disgraced financier's victims. Court-appointed trustee Irving Picard told reporters Thursday on a conference call that he's identified about $1 billion in assets that will be used to pay the claims.
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